Archive for the ‘Entrepreneurship’ Category

Entrepreneurship in Botswana

The Parliamentary Republic of Botswana declared its independence from the United Kingdom on September 30, 1966. With a population as of 2003 of 1,573,267 Botswana has great potential for accelerated entrepreneurship. The GDP per capita is 15,800.

Since independence, Botswana has had the fastest growth in per capita income in the world. Economic growth averaged over 9% per year from 1966 to 1999. Much of that is due to the stockpiling of foreign exchange reserves and most of the impressive economic record has been built on revenue generated from diamond mining to fuel economic development. The economy, closely tied to South Africa’s, is dominated by mining, especially diamonds, cattle, and tourism. Some going concerns of the country are that it is the second highest HIV infection rate in the world after Swaziland, and that it is heavily reliant on mining for economic stability.

Botswana is seeking to further diversify its economy away from minerals, and tourism and entrepreneurship may play an important role in this. The government welcomes this. The national language is English and the Batswana further wish to entice foreign investment and business. As of 1999, Botswana abolished foreign exchange controls and has lowered the corporate tax rate to 15%. They also have no prohibitions on foreign ownership of companies, and will develop plans to further advance their competitiveness on a global scale. Some U.S. companies that are prevalent in the country are H.J. Heinz and AON Corporation, as well as Kentucky Fried Chicken and Remax.

Globalization will be necessary in order for Botswana to become a stronger economic and entrepreneurial force. Currently 70% of Botswana’s electricity is imported from South Africa. Botswana will need direct foreign investment in order to grow further.

Economic freedom has flourished under a contemporary multi-party democracy, which has promoted entrepreneurship through domestic and international educational and training programs for Botswana’s citizens. Although the majority of Botswana’s income is from mining, the entrepreneurship push is allowing areas such as construction and technical fields to be explored.

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Invention, Innovation and Entrepreneurship

In this work I will explore the importance of innovation and the creative endeavor in Asia that leads to entrepreneurship. We also discuss how entrepreneurship develops new ideas and, from heir ideas, establish new enterprises that add value to Asian society.

If creativity is the seed that inspires entrepreneurship, innovation is the process of entrepreneurship. Enterpreneurers are often thought to be “inspired” people, and perhaps they are, but more important, they often recognize changes and opportunities that can result from a dynamic world. Innovation is an important factor of entrepreneurship for every leader. It is defined as the process of doing new things. Therefore, it is often the active translation of a creative idea into a new product, service, or technology. Drukers writes that “innovation…is the means by which the entrepreneur either creates new wealth-producing resources or endows existing resources with enhanced potential for creating wealth.”

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The Secret Science of Getting Rich Through Entrepreneurship

Everywhere you turn nowadays, you always hear about venturing into entrepreneurship. But what is entrepreneurship exactly? It is actually defined as the process wherein a group or an individual makes an effort to pursue opportunities to satisfy needs and wants through uniqueness and innovation.

In a nutshell, entrepreneur solves problem for a profit. Some people have the misconception that entrepreneurs are gamblers in the sense that they take risks and invest in industries that have no record of success.

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Successful Home Based Entrepreneurship

Budding business people are always on the hunt for useful tips that they can use for their home-based entrepreneurship. More and more people now are interested in creating a home based business because of the endless opportunities available online, even unknowledgeable individuals.

Through the internet, any person can become an entrepreneur. An online home-based entrepreneurship requires less capital investment and so many people think that they can easily make a fortune out of it. But you see, even an online business requires careful thought and consideration. You have to exert a lot of effort and time to make it a success. Some of the online entrepreneurship opportunities include affiliate marketing, blogging, copywriting, and many others. If you take your time to do some research, you can find many high-profits earning business opportunities out there.

For family-oriented individuals who seeks for more flexibilities and for those that don't have a professional career, a home-based entrepreneurship may be the answer to their financial needs. Running an online business does not evolve mainly on the desire to earn income. It takes more than that. Here are some helpful tips that you can use in running your home-based business: 1.No man is an island. Have you heard of that famous cliche? That is specifically true for entrepreneurs. You are the boss of your business but that does not mean that you will not need any support. You need to seek help from people who are more experienced than you. You have to learn more about your target market so that you can address its needs accordingly.

You can contact professional organizations for more information. Through research, you can learn a lot. 2.Educate yourself and be well informed. Only God knows everything. Man has limitations and so you will not know everything that is happening all at once. You need to get the proper training in running your home-based business. You need to familiarize yourself with record keeping, tax deductions, and basic accounting procedures. Through series of trainings, you will know more about running your online business venture especially if you are new in this field. 3.Never start a business that you are not familiar with. Training and experience are the keys to success. To run your home-based business smoothly, you need to be an expert.

Continue to learn as much as possible. Get to know in detail every possible aspect of the business you can think of before you plunge into your new business. 4.Never lose hope. Always have self confidence so that you can pass all the trainings and become a professional entrepreneur. You must always be patient and don't give up easily especially if you are encountering certain difficulties and problems. By working hard, you can get the exact results that you want. Huge results don't come instantly. You must always trust your training, your business plans, and most especially, yourself. These are some tips that you can use in making your home-based business a success. There are many tips that you can find on the internet but these four tips are among the best and most effective. Many expert entrepreneurs can attest to that.

If you want, you can join entrepreneur workshops so that you can meet famous entrepreneurs and learn more about their lives. As the number of home-based entrepreneurship increases, you must be able to compete with other businesses. This is the only way to be successful. Incorporate these helpful tips in starting your online business and soon enough, you can prove if it is effective or not. You can earn huge profits if you start your business with a solid foundation and manage it effectively.

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